1.1 Real Estate - A Business of Many Specializations

The business of bringing buyers and sellers together and assisting in negotiations for the terms of sale of real estate is known as...?

Brokerage

Who act as the agent for others in negotiating the purchase and sale of real property or other commodities for a fee?

Real Estate Broker

Who is supervised by a broker?

Real Estate Salesperson

A type of property that includes one to four dwelling units is known as...?

Residential

Property that produces rental income or that is used in business is known as...?

Commercial property

A type of property that is used by companies or persons for manufacturing, warehousing, or the assemblage of components?

Industrial property

A type of property that is created as a result of combining the land and its improvements for a single highest and best use?

Special purpose property

Property that provides a mixture of any urban, suburban or village development, or even a single building, that blends a combination of residential, commercial, cultural, institutional, or industrial uses?

Mixed-use-property

Government held properties include which of the following...?

Public Parks

These real estate brokers specialize in the sale and lease of shopping centers and office buildings...?

Commercial brokerage

Property inspections must be licensed by the Texas Real Estate Commission...?

True

Which of the following is an example of a special purpose property...?

Church

The business of bringing buyers and sellers together and assisting in negotiations for the terms of sale of real estate is known as...?

Brokerage

Who act as the agent for others in negotiating the purchase and sale of real property or other commodities for a fee?

Real Estate Broker

Who is supervised by a broker?

Real Estate Salesperson

A type of property that includes one to four dwelling units is known as...?

Residential

Property that produces rental income or that is used in business is known as...?

Commercial property

A type of property that is used by companies or persons for manufacturing, warehousing, or the assemblage of components?

Industrial property

A type of property that is created as a result of combining the land and its improvements for a single highest and best use?

Special purpose property

Property that provides a mixture of any urban, suburban or village development, or even a single building, that blends a combination of residential, commercial, cultural, institutional, or industrial uses?

Mixed-use-property

Government held properties include which of the following...?

Public Parks

These real estate brokers specialize in the sale and lease of shopping centers and office buildings...?

Commercial brokerage

Property inspections must be licensed by the Texas Real Estate Commission...?

TRUE

Which of the following is an example of a special purpose property...?

Church